With nearly two decades of experience, Anjali Das represents insurers in connection with professional liability insurance coverage matters and claims involving accounting, finance and other complex business issues. She is a coordinating partner for the firm's Directors & Officers practice and a member of the Diversity Committee.
Anjali represents the interests of U.S., London and Bermuda-based primary and excess insurers in high-exposure claims against directors and officers of public and private companies, non-profit boards, financial institutions, investment banks, insurance companies, mortgage brokers, bank and custodial trustees, and ERISA plan fiduciaries. She has handled claims related to shareholder class actions seeking multimillion-dollar damages against public companies and their directors and officers, as well as other high-profile fraud cases involving a variety of issues.
Driven by her passion for the interplay of law and business, Anjali earned a Masters in Business Administration at one of the nation's top business schools in 2001 while maintaining a full-time legal practice at the firm. Clients benefit from her ability to view legal issues from a business perspective as well as her understanding of how shareholder obligations impact the corporate decision-making process. Anjali's focused insurance and business background is further enhanced by her prior experience as in-house claims counsel for a domestic insurance carrier.
Areas of Focus
Directors & Officers Liability
Anjali has successfully mediated, arbitrated and litigated D&O and other insurance coverage disputes in state and federal courts nationwide. Anjali regularly represents D&O insurers as coverage and monitoring counsel in complex shareholder class actions against public companies and their directors and officers for violations of federal securities laws; shareholder derivative suits against directors and officers for breach of fiduciary duty and mismanagement in the context of mergers and acquisitions and other business transactions; and ERISA stock drop lawsuits. These matters specifically have involved late trading, market timing, stock options backdating, contingent commissions, Foreign Corrupt Practices Act, China reverse merger companies, the Bernard L. Madoff international Ponzi scheme, and the mortgage subprime crisis. She also has counseled clients in connection with lawsuits brought by the government and regulators, including the U.S. Securities and Exchange Commission, Department of Justice, and Federal Deposit Insurance Corporation. Anjali's representation in such matters has resulted in tens of millions of dollars in savings for insurance companies.
Prior to joining the firm, Anjali served as in-house claims counsel for a domestic insurance carrier, where she was responsible for claims arising under public and private D&O, employment practices and lawyers' liability insurance policies. She assisted in drafting policy wording and endorsements, established a network of approved defense panel counsel, analyzed potential liability exposure and coverage defenses to claims, set claims reserves and interacted with the company's reinsurers during claims audits. Through this experience, Anjali gained valuable insight into the insurance company claims reporting structure; the management of outside counsel; the dynamic interplay among adjusters, underwriters and brokers; the importance of setting accurate claims reserves in a timely fashion; the role of reinsurers; and the value of tracking claims trends and costs, which impact an insurance company's long-term business objectives and profitability.
As part of her professional liability insurance coverage practice, Anjali handles reinsurance matters for both foreign and domestic clients. For example, she has had day-to-day oversight of a reinsurance program for one of the country's largest banks, insured by the London market for D&O liability, bankers' professional liability and fiduciary liability claims. She represented the bank's reinsurers as coverage counsel and monitoring counsel for complex, multimillion-dollar claims and class action lawsuits alleging predatory lending, excessive banking and overdraft fees, violations of federal and state securities and antitrust laws, receipt of undisclosed contingent commissions, and aiding and abetting Ponzi schemes.
Anjali also has conducted reinsurance audits of claims files and prepared reinsurance reports analyzing potential exposure for a variety of professional liability claims.
Anjali is an active member of the firm's Data Security & Cyber Liability practice as claims and coverage counsel for domestic and international insurers. In addition to writing articles on cyber topics, she has given webinars and presentations on cyber liability insurance claims and coverage issues to international audiences such as the PLUS International Conference in November 2012. In March 2013, she presented a live cyber liability webinar that drew more than 600 participants globally and addressed the evolution and future of data breach and privacy claims, coverage under traditional policies and new cyber policies, and why corporate boards should pay attention to cyber risks.
Memberships & Affiliations
American Bar Association: Tort & Insurance Practice Section, Professionals, Directors and Officers Liability Committee
Chicago Bar Association: co-chairperson and legislative liaison, Securities Law Committee, 2005-2006; chair, 1933/1934 Act Subcommittee, 2004-2005
Professional Liability Underwriting Society (PLUS): vice-chair, Midwest Steering Committee